It is estimated that more than 60% of companies use CV screening but...
60% !!! Without a doubt, I can say that a CV is the primary candidate screening and selection method for most. Yet at the same time, as the poll below reveals – the majority of those who still use CVs, do not even believe that a CV tells them enough information to determine whether the candidate is a good fit for the job or not..
Which then raises some questions – why are people still choosing to use CV-based screening if they don’t even believe in it? That’s not even all…
The labour market is at a crucial flipping point and you should be worried.
The labour market is at a crucial flipping point. While candidates can still apply for jobs online and send CVs, the revolution has started. By 2025, you will have a big problem if you rely solely on CVs when it comes to hiring the right talent.
There are three recent trends that are changing the job market and making hiring based on a CV obsolete:
- The war for talent. 10 days is the average number of days before top candidates are off the market. Candidate experience matters more than ever before – so if you’re not ready to provide the best out best CX, then you might as well just not look for candidates at all.
- 85% of all jobs in 2025 do not exist just yet in 2022, which makes hiring for experience impossible. The pace of change will be (and plot twist – already is) so rapid that people will learn “in-the-moment” using new technologies. A moment when cognitive abilities like learning ability, for example, will be more valuable than the knowledge itself.
- Ever increasing importance of DE&I. According to research, 76% of all job seekers walk away if a company doesn’t prioritise DE&I. If you want to build teams and a company that is future-proof, without walking the talk when it comes to DE&I – it simply won’t happen.
I am constantly amazed at how many companies, how many recruiters, how many hiring managers do not understand what is going on. They still don’t get it.
Yes, you and I both know that hiring talent is one of the most challenging and risky human resources (HR) functions. And it’s even harder right now as a result of the war for talent and the great resignation. If you’re still relying on CV screening, then you are likely to fall behind the competition by 2025.
That is because, by 2025, talent selection and HR departments that rely on ineffective processes will also be the ones that suffer from a talent shortage.
2 Risks of CV-based screening you (probably) weren't aware of.
CV's don’t predict on-the-job success - like, at all.
Education and job experience are by far two of the most important aspects of any CV. Yet, low and behold – when it comes to the correlation between these two aspects and job performance, research findings actually prove that they do not predict on-the-job success at all.
The Great Skills Mismatch is just around the corner.
Human capital is under intense pressure worldwide as powerful forces—globalization, demographic and regional shifts, digitization, urbanization, and virtual and informal forms of employment—gain traction. AS a result, skills are becoming obsolete at an increasingly fast rate—technical skills, for example, are outdated in two to five years—heightening the need for reskilling and upskilling.
This is what we call “The Great Skills Mismatch”. This new situation, in which employee and employer expectations have never seemed to be so unaligned, is characterised by talent and skills shortages, as well as workforces that feels disconnected and less motivated. Did you know that according to a report by BCG, the skills mismatch affects 1.3 billion people worldwide and imposes a 6% annual tax on the global economy in the form of lost labor productivity!!!
Yet, we still choose to continue basing our hiring decisions on the mid-15th-century model: CV-based screening. This simply cannot work in today’s world, which demands continuous-growth competition. Competition between employers for the best talent out there.
To unlock the full potential of human capital in the face of constant change you are facing now more than ever, you need to shift from standardization to uniqueness, treating talent not as a consolidated economic resource but as sets of distinct personalities, each set with different needs, capabilities, and potential and each able to make a unique contribution to our company.
TLDR: CV-based hiring makes YOU miss out on great talent, act on biases, and hire the wrong people. That’s why it’s time to leave the CV in 2022.
Dare to not accept the flaws of CV-based hiring & embrace the future NOW.
A world in which every single person has the exact same chance to get hired for a job. That’s the world we’re aiming to shape. With Equalture, we want to outsmart biases from the hiring process, so that every single candidate is being provided with the exact same opportunity to get hired for a job. And science is our best friend here.
Here at Equalture, we are building a tool that revolutionises the way candidates apply to one of your jobs. Instead of uploading a resume and filling in a boring job application form, we let candidates share their LinkedIn profile and play some games right away. Game-based assessments that are scientifically validated, are actually predictive of future job performance & boost your candidate experience. All while allowing you to hire the best right talent out there.
Curious to try out one of these games yourself? Leave your details below and start your game right away. However, we won’t tell you what we will measure only until after you’ve completed it… 😉
In 2025, talent selection will be different than it is today. Become a pioneer in embracing change to eventually become the leader.
Cheers, Anete.
